+ Revenue for the cloud business was 2.3235 trillion won in 2024, recording a 23.5% growth over the previous year
+ The digital logistics platform Cello Square shows continued growth with subscribers exceeding 19,400 companies
+ Fourth quarter revenue amounted to 3.6423 trillion won, with an operating profit of 211.5 billion won
On January 23rd, Samsung SDS announced its preliminary earnings for 2024: revenue of 13.8282 trillion won and operating profit of 911.1 billion won. Revenue and operating profit grew by 4.2% and 12.7%, respectively, compared to the previous year.
In the fourth quarter of 2024, the company’s revenue was 3.6423 trillion won and operating profit was 211.5 billion won. The fourth quarter revenue increased by 7.9% YoY, while operating profit declined by 1.4% YoY.
Among the various businesses, the IT Service Business achieved an annual revenue of 6.4014 trillion won, up 4.8% from the previous year. Notably, revenue for the cloud business grew by 23.5% compared to the previous year, achieving a total of 2.3235 trillion won.
Within the cloud business, the Samsung Cloud Platform (SCP)-based cloud service provider (CSP) business and the managed service provider (MSP) business grew evenly. The launch of public cloud services at the Daegu Center, the establishment of the next-generation system in the financial and public sectors, etc., contributed to the revenue increase.
The logistics business sees relatively stable growth even amidst impacts seen within the global logistics market. The revenue of the business marked 7.4268 trillion won, up 3.6% compared to the previous year.
Cello Square, a digital logistics platform, steadily grew and evolved into an important pillar of intelligent supply chain management, recording 306 billion won in the fourth quarter of 2024, up 27% YoY. The number of subscribers to Cello Square continued to grow, surpassing 19,400 companies.
Samsung SDS ranked number one in the ‘Korea Managed Cloud Services (MSP) Market Share, 2023’ report announced by the global IT market intelligence firm IDC. The company ranked number two (number one among domestic players) in the ‘Korea Public Cloud Services (CSP) Market Share, 2023’ report. As such, the company is leading the domestic cloud market.
Additionally, Samsung SDS has upgraded its generative AI services. The company participated in CES 2025, the world’s largest information technology (IT) and electronics exhibition held in Las Vegas, USA. At the event, Samsung SDS unveiled Brity Copilot’s ‘simultaneous interpretation and translation services,’ which cover three or more languages during meetings, a first in the world. FabriX’s ‘Multi-Agent’ feature, which enable multiple agents to communicate with one another and solve issues; and Brity Automation, the number one business automation solution in Korea, were unveiled as well.
Samsung SDS plans to grow into a leader in the IT market by providing generative AI services optimized for business activities.
Meanwhile, Samsung SDS decided on a dividend of 2,900 won per share through a board resolution. This is in line with its three-year dividend policy of maintaining a 30% dividend payout ratio.
| 2024 | 2023 | YoY | 2024 4Q | QoQ | YoY | |
|---|---|---|---|---|---|---|
| Revenue | 138,282 | 132,768 | +4.2% | 336,423 | +2.0% | +7.9% |
| Operating Profit | 9,111 | 8,082 | +12.7% | 2,115 | -16.3% | -1.4% |
(Unit: KRW in billion)
